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Western Midstream - Government Trades

Western Midstream

Western Midstream Partners LP is a US-based company which own, operate, acquire and develop midstream energy assets. The company through its subsidiary is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, NGLs and crude oil. It owns or has investments in assets located in the Rocky Mountains (Colorado, Utah, and Wyoming), the Mid-Continent (Kansas and Oklahoma), North-central Pennsylvania and Texas.

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Occidental Petroleum is reportedly exploring a sale of its 49% stake in Western Midstream to reduce debt. WES has not launched a sales process nor has it engaged bankers or other advisors with a view toward doing so.

What&#39;s Going On With Western Midstream Shares Today?

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Western Midstream Partners, LP Common Units Representing Limited Partner Interests

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Western Midstream's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) short percent of float has risen 18.56% since its last report. The company recently reported that it has 8.13 million shares sold short, which is 4.28% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.26 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Western Midstream Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718213421_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Western Midstream has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Western Midstream's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Western Midstream's peer group average for short interest as a percentage of float is 3.79%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Short Ideas

How Is The Market Feeling About Western Midstream?

Wells Fargo analyst Michael Blum maintains Western Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) with a Equal-Weight and raises the price target from $34 to $35.

Wells Fargo Maintains Equal-Weight on Western Midstream, Raises Price Target to $35

Western Midstream's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) short percent of float has risen 8.9% since its last report. The company recently reported that it has 6.95 million shares sold short, which is 3.67% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.37 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Western Midstream Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715969715_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Western Midstream has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Western Midstream's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Western Midstream's peer group average for short interest as a percentage of float is 3.77%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Western Midstream's Recent Short Interest

Western Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) reported quarterly earnings of $1.47 per share which beat the analyst consensus estimate of $0.81 by 81.48 percent. This is a 182.69 percent increase over earnings of $0.52 per share from the same period last year. The company reported quarterly sales of $887.73 million which missed the analyst consensus estimate of $890.65 million by 0.33 percent. This is a 20.95 percent increase over sales of $733.98 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Western Midstream Q1 EPS $1.47 Beats $0.81 Estimate, Sales $887.73M Miss $890.65M Estimate

Western Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) has been analyzed by 4 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Western Midstream, presenting an average target of $35.75, a high estimate of $39.00, and a low estimate of $34.00. Marking an increase of 13.49%, the current average surpasses the previous average price target of $31.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1715083234_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The analysis of recent analyst actions sheds light on the perception of Western Midstream by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Gabriel Moreen</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Buy</td>
<td>$39.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$34.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Spiro Dounis</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$34.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Selman Akyol</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$36.00</td>
<td>$35.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Western Midstream. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Western Midstream compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Western Midstream's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Western Midstream's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/WES/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Western Midstream analyst ratings.</a>
<h2>Unveiling the Story Behind Western Midstream</h2>
Western Midstream Partners LP is a US-based company which own, operate, acquire and develop midstream energy assets. The company through its subsidiary is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, NGLs and crude oil. It owns or has investments in assets located in the Rocky Mountains (Colorado, Utah, and Wyoming), the Mid-Continent (Kansas and Oklahoma), North-central Pennsylvania and Texas.
<h3>Unraveling the Financial Story of Western Midstream</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Western Midstream's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 10.11%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Energy sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 32.82%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 9.85%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Western Midstream's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.34% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a high debt-to-equity ratio of 2.73, Western Midstream faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Basics of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Breaking Down Western Midstream: 4 Analysts Share Their Views

Mizuho analyst Gabriel Moreen maintains Western Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) with a Buy and raises the price target from $34 to $39.

Mizuho Maintains Buy on Western Midstream, Raises Price Target to $39

WIIM

CTRA

DINO

TALO

Shares of oil and gas companies are trading lower amid reports of Middle East peace talks.

Western Midstream shares are trading higher after Wolfe Research upgraded the stock from Underperform to Peer Perform.

Wolfe Research analyst Keith Stanley upgrades Western Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) from Underperform to Peer Perform.

Upgrades

Wolfe Research Upgrades Western Midstream to Peer Perform

Western Midstream's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) short percent of float has risen 26.73% since its last report. The company recently reported that it has 7.29 million shares sold short, which is 3.84% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.27 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Western Midstream Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711994411_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Western Midstream has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Western Midstream's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Western Midstream's peer group average for short interest as a percentage of float is 3.82%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Western Midstream's Recent Short Interest

Raymond James analyst Justin Jenkins downgrades Western Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) from Outperform to Market Perform.

Downgrades

Raymond James Downgrades Western Midstream to Market Perform

In the last three months, 4 analysts have published ratings on Western Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>), offering a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Western Midstream, presenting an average target of $32.75, a high estimate of $36.00, and a low estimate of $27.00. Observing a 7.38% increase, the current average has risen from the previous average price target of $30.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1710169253_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Western Midstream. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$34.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Spiro Dounis</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$34.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Selman Akyol</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$36.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Neel Mitra</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$27.00</td>
<td>$30.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Western Midstream. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Western Midstream compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Western Midstream's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Western Midstream's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/WES/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Western Midstream analyst ratings.</a>
<h2>Unveiling the Story Behind Western Midstream</h2>
Western Midstream Partners LP is a US-based company which own, operate, acquire and develop midstream energy assets. The company through its subsidiary is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, NGLs and crude oil. It owns or has investments in assets located in the Rocky Mountains (Colorado, Utah, and Wyoming), the Mid-Continent (Kansas and Oklahoma), North-central Pennsylvania and Texas.
<h3>Key Indicators: Western Midstream's Financial Health</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Western Midstream's remarkable performance in 3 months is evident. As of 31 December, 2023, the company achieved an impressive revenue growth rate of 10.11%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Energy sector.
Net Margin: Western Midstream's net margin excels beyond industry benchmarks, reaching 32.82%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Western Midstream's ROE stands out, surpassing industry averages. With an impressive ROE of 9.85%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Western Midstream's ROA excels beyond industry benchmarks, reaching 2.34%. This signifies efficient management of assets and strong financial health.
Debt Management: Western Midstream's debt-to-equity ratio surpasses industry norms, standing at 2.73. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings For Western Midstream

RBC Capital analyst Elvira Scotto maintains Western Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) with a Sector Perform and raises the price target from $27 to $34.

RBC Capital Maintains Sector Perform on Western Midstream, Raises Price Target to $34

Editor&#39;s Note: The article has been corrected to accurately state that Executive Chairman and CEO James L. Dolan acquired a total of 76,139 shares of Sphere Entertainment.
Although U.S. stocks closed higher on Friday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Western Midstream Partners </h3>
<ul>
<li>The Trade: Western Midstream Partners, LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wes#NYSE">WES</a>) President and CEO Michael Ure <a href="https://www.benzinga.com/quote/WES/analyst-ratings"> acquired a total of 5,000 shares </a> an average price of $33.65. To acquire these shares, it cost around $168,250.</li>
<li>What&rsquo;s Happening: On Feb. 29, Citigroup analyst Spiro Dounis downgraded Western Midstream from Buy to Neutral and raised the price target from $30 to $34.</li>
<li>What Western Midstream Partners Does: Western Midstream Partners LP is a US-based company which own, operate, acquire and develop midstream energy assets.</li>
</ul>
<h3>Sphere Entertainment </h3>
<ul>
<li>The Trade: Sphere Entertainment Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sphr#NYSE">SPHR</a>) Executive Chairman and CEO James L. Dolan acquired a total of 76,139 shares at an average price of $40.73. To acquire these shares, it cost around $3.1 million.</li>
<li>What&rsquo;s Happening: On Feb. 5, Sphere Entertainment clocked a 97% year-on-year revenue growth to $314.2 million, beating the consensus of $301.8 million.</li>
<li>What Sphere Entertainment Does: Sphere Entertainment Co is live entertainment and media company. The firm creates, writes, cast, produce, and tour shows and events.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Agree Realty </h3>
<ul>
<li>The Trade: Agree Realty Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/adc#NYSE">ADC</a>) Director, Executive Chairman of Board Richard Agree <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 16,000 shares </a> at an average price of $55.50. To acquire these shares, it cost around $888,000.</li>
<li>What&rsquo;s Happening: On Feb. 27, Truist Securities analyst Ki Bin Kim maintained Agree Realty with a Buy and lowered the price target from $70 to $68.</li>
<li>What Agree Realty Does: Agree Realty Corporation operates as a fully integrated real estate investment trust mainly focused on the ownership, acquisition, development and management of retail properties net leased to industry-leading tenants.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/03/37448052/sea-aerovironment-and-3-stocks-to-watch-heading-into-monday"> Sea, AeroVironment And 3 Stocks To Watch Heading Into Monday </a>

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Tigress Financial boosted the price target for NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) from $790 to $985. Tigress Financial analyst Ivan Feinseth maintained a Buy rating. NVIDIA shares fell 1.3% to close at $776.63 on Wednesday. <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Bernstein increased the price target for Okta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/okta#NASDAQ">OKTA</a>) from $84 to $114. Bernstein analyst Peter Weed maintained a Market Perform rating. Okta shares rose 0.5% to close at $87.30 on Wednesday. <a href="https://www.benzinga.com/quote/OKTA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays increased Bandwidth Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/band#NASDAQ">BAND</a>) price target from $20 to $22. Barclays analyst Ryan McKeveny maintained an Overweight rating. Bandwidth shares rose 51.8% to close at $18.44 on Wednesday. <a href="https://www.benzinga.com/quote/BAND/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS boosted the price target for Pure Storage, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pstg#NYSE">PSTG</a>) from $38 to $44. UBS analyst David Vogt maintained a Neutral rating. Pure Storage shares gained 1.5% to close at $42.12 on Wednesday. <a href="https://www.benzinga.com/quote/PSTG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>TD Cowen lowered Macy&#39;s, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>) price target from $23 to $20. TD Cowen analyst Adam Maeder downgraded the stock from Outperform to Market Perform. Macy&#39;s shares fell 7.7% to close at $18.41 on Wednesday. <a href="https://www.benzinga.com/quote/M/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird boosted the price target for Salesforce, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crm#NYSE">CRM</a>) from $310 to $355. Baird analyst Rob Oliver maintained an Outperform rating. Salesforce shares rose 0.1% to close at $299.77 on Wednesday. <a href="https://www.benzinga.com/quote/CRM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup boosted Western Midstream Partners, LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wes#NYSE">WES</a>) price target from $30 to $34. Citigroup analyst Spiro Dounis downgraded the stock from Buy to Neutral. Western Midstream Partners shares fell 1.8% to close at $33.42 on Wednesday. <a href="https://www.benzinga.com/quote/WES/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS boosted Duolingo, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/duol#NASDAQ">DUOL</a>) price target from $230 to $275. UBS analyst Chris Kuntarich maintained a Buy rating. Duolingo shares climbed 0.5% to close at $195.51 on Wednesday. <a href="https://www.benzinga.com/quote/DUOL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler cut Patterson Companies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pdco#NASDAQ">PDCO</a>) price target from $34 to $28. Piper Sandler analyst Jason Bednar downgraded the stock from Overweight to Neutral. Patterson shares fell 7.3% to close at $26.74 on Wednesday. <a href="https://www.benzinga.com/quote/PDCO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley increased Sonic Automotive, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sah#NYSE">SAH</a>) price target from $35 to $40. Morgan Stanley analyst Adam Jonas maintained an Underweight rating. Sonic Automotive shares fell 0.4% to close at $51.24 on Wednesday. <a href="https://www.benzinga.com/quote/SAH/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37389351/11m-bet-on-this-industrial-stock-check-out-these-3-stocks-insiders-are-buying"> $11M Bet On This Industrial Stock? Check Out These 3 Stocks Insiders Are Buying </a>

Citigroup analyst Spiro Dounis downgrades Western Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) from Buy to Neutral and raises the price target from $30 to $34.

Citigroup Downgrades Western Midstream to Neutral, Raises Price Target to $34

Although U.S. stocks closed mixed on Tuesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>V.F. Corporation </h3>
<ul>
<li>The Trade: V.F. Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vfc#NYSE">VFC</a>) Director Richard Carucci <a href="https://www.benzinga.com/quote/VFC/analyst-ratings"> acquired a total of 20,000 shares </a> an average price of $15.53. To acquire these shares, it cost around $310,620.</li>
<li>What&rsquo;s Happening: VF Corp expanded board with appointment of Caroline Brown following engagement with Engaged Capital.</li>
<li>What V.F. Corporation Does: VF designs, produces, and distributes branded apparel, footwear, and accessories.</li>
</ul>
<h3>Western Midstream Partners </h3>
<ul>
<li>The Trade: Western Midstream Partners, LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wes#NYSE">WES</a>) Director Kenneth F. Owen acquired a total of 7,000 shares at an average price of $33.96. To acquire these shares, it cost around $237,720.</li>
<li>What&rsquo;s Happening: On Feb. 21, Western Midstream Partners reported a year-over-year increase in fourth-quarter revenue results.</li>
<li>What Western Midstream Partners Does: Western Midstream Partners LP is a US-based company which own, operate, acquire and develop midstream energy assets.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Ocular Therapeutix </h3>
<ul>
<li>The Trade: Ocular Therapeutix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocul#NASDAQ">OCUL</a>) 10% owner Summer Road LLC<a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 930,851 shares </a> at an average price of $7.52. To acquire these shares, it cost around 7 million.</li>
<li>What&rsquo;s Happening: On Feb. 22, Ocular Therapeutix announced a $325 million private placement.</li>
<li>What Ocular Therapeutix Does: Ocular Therapeutix Inc is a biotechnology company that specializes in therapies for diseases and conditions of the eye.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/02/37356235/investor-sentiment-improves-following-economic-reports-s-p-500-settles-higher"> Investor Sentiment Improves Following Economic Reports; S&amp;P 500 Settles Higher </a>
&nbsp;

Western Midstream Partners shares are trading higher after the company reported a year-over-year increase in Q4 revenue results.

Guidance

Western Midstream Partners Announces Agreements To Divest Interests In Non-Core Assets For Aggregate Proceeds Of $790M; Sees 2024 Adj. EBITDA $2.2B-$2.4B

Western Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) reported quarterly earnings of $0.74 per share. This is a 12.94 percent decrease over earnings of $0.85 per share from the same period last year. The company reported $858.21 million in sales this quarter. This is a 10.11 percent increase over sales of $779.44 million the same period last year.

Western Midstream Q4 EPS $0.74 Down From $0.85 YoY, Sales $858.21M Up From $779.44M YoY

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Press Releases

WESTERN MIDSTREAM ANNOUNCES PARTICIPATION IN UPCOMING INVESTOR CONFERENCE

WESTERN MIDSTREAM ANNOUNCES FOURTH-QUARTER 2023 DISTRIBUTION AND EARNINGS CONFERENCE CALL

WESTERN MIDSTREAM STATEMENT REGARDING RECENT MEDIA COVERAGE

WESTERN MIDSTREAM ANNOUNCES FOURTH-QUARTER AND FULL-YEAR 2023 RESULTS

WESTERN MIDSTREAM ANNOUNCES 2024 GUIDANCE AND NON-CORE ASSET SALES FOR AGGREGATE PROCEEDS OF $790 MILLION

WESTERN MIDSTREAM ANNOUNCES FOURTH-QUARTER POST-EARNINGS INTERVIEW WITH CHIEF FINANCIAL OFFICER, KRISTEN SHULTS AND PARTICIPATION IN UPCOMING INVESTOR CONFERENCES

WESTERN MIDSTREAM ANNOUNCES FIRST-QUARTER 2024 DISTRIBUTION AND EARNINGS CONFERENCE CALL

WESTERN MIDSTREAM ANNOUNCES FIRST-QUARTER 2024 RESULTS

WESTERN MIDSTREAM ANNOUNCES FIRST-QUARTER POST-EARNINGS INTERVIEW WITH CHIEF FINANCIAL OFFICER, KRISTEN SHULTS AND SVP, SOUTHERN OPERATIONS, DANNY HOLDERMAN

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Western Midstream Partners LP

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